Mitsubishi Chemical Group Corporation (MCG) announced that, at the meeting of its Board of Directors held December 22, 2023, it resolved change of representative corporate executive officers as outlined below. Change in Representative Corporate Executive Officers: Appointed: Manabu Chikumoto, Representative Corporate Executive Officer and President. Retiring: Jean-Marc Gilson, Representative Corporate Executive Officer and President.

Scheduled Date of Appointment: April 1, 2024. Jean-Marc Gilson, who assumed the position of Representative Corporate Executive Officer, President and Chief Executive Officer of MCG in April 2021, has been working toward the goal of growth and operational excellence under the "Forging the future" management policy announced in December 2021, by implementing globalization of management practices, refined marketing practices, cost structure reform, disciplined working capital management, etc., and has been able to improve MCG's profitability in a challenging business environment. MCG is currently facing the following key management issues: (1) carbon neutrality and circular economy initiatives, (2) industry restructuring in the Japanese petrochemical business, (3) growth of the Specialty Materials business, and (4) further portfolio reform.

In recognition of these current issues, MCG has decided to appoint Manabu Chikumoto, who has deep business expertise and is widely connected in the chemical industry in Japan and elsewhere, as the next Representative Corporate Executive Officer, President and Chief Executive Officer, in order to enhance MCG's corporate value under a leader who can take the lead in developing and implementing a growth strategy by directly addressing these management issues. Name: Manabu Chikumoto. Date of Birth: June 26, 1964.

Place of Birth: Hiroshima-City, Hiroshima-Prefecture, Japan. Professional Experience: April 1988: Joined Mitsubishi Chemical Industries Limited (Current: Mitsubishi Chemical Corporation). April 2010: General Manager, Phenol and Polycarbonate Dept.

Polymer Div., Mitsubishi chemical Corporation. February 2013: Managing Director, MCC PTA India Private Limited. April 2015: Managing Director, MCC PTA Asia Pacific Private Limited, Managing Director, Mitsubishi Chemical Singapore Pte Ltd. April 2017: Senior Associate Director, Division General Manager, Basic Chemical Derivatives Div.

Petrochemicals Business Domain, Mitsubishi Chemical Corporation. April 2018: Executive Officer, General Manager, Industrial Materials Strategy Office, Corporate Strategy Division, Mitsubishi Chemical Holdings Corporation (Current: Mitsubishi Chemical Group Corporation). July 2021: Executive Officer, General Manager, Corporate Planning Office, Corporate Strategy Division, Mitsubishi Chemical Holdings Corporation.

April 2022: Division General Manager, Carbon Chemicals Div., Basic Materials Domain, Mitsubishi Chemical Corporation. April 2023: Corporate Executive Officer, Executive Vice President, Head of Basic Materials, Mitsubishi Chemical Group Corporation. April 2024: Representative Corporate Executive Officer, President and Chief Executive Officer, Mitsubishi Chemical Group Corporation (to be appointed).